Gaps [Kioseff Trading]

16 Mar 2023

Hello!

This script "Gaps" is a continuation and improvement on a subset indicator included in the "Quartile Volume; Volume Aggregation; US Range Bars; Gaps)" script!

As advised by thebearfib, the "Gaps" indicator is now standalone!

Features

• Stat: Avg. Bars to Fill Up Gap
  
• Stat: Avg. Bars to Fill Down Gap
  
• Stat: Cumulative Up Gap % Increase
  
• Stat: Cumulative Down Gap % Increase
  
• Stat: Avg Up Gap % Increase
  
• Stat: Avg Down Gap % Decrease
  
• Nearest Unfilled Up Gaps and Down Gaps Displayed in Table
  
• % Price Move Requirement, Including Dollar Amount, for Nearest Unfilled Gaps to Fill
  
• Gaps Marked on Chart, Including Partially Filled Gaps and The % Amount a Partially Filled Gap Has Been Violated
  
• Gaps Chart
  

The image above shows the data tables included in the indicator!

Settings



The image above shows various settings for the indicator!



The image above shows how partially filled gaps are marked using the default settings.

Exceeded price areas are shaded darker; however, by selecting the "No Partially Filled Gaps" option, the indicator will treat partially filled gaps differently.



The image above shows alternative behavior! Instead of the gap changing color it narrows in size.



The image above shows the indicator's behavior when selecting to show gap data in labels.

Therefore, when a gap is small and the box text is imperceptible, you can select to show the data in a label.

Additionally, you can select to display a "Gaps Chart".



The image above shows this feature enabled. The gaps chart shows the sequence of price gaps for the asset as candlesticks.


Thank you for checking this out; if you'd like other features included please let me know!